Common use of Liens Under the Security Instruments Clause in Contracts

Liens Under the Security Instruments. Upon the execution and delivery of the Security Instruments in accordance herewith, and where appropriate the filing and recordation thereof with the appropriate filing or recording officers in each of the necessary jurisdictions, the Liens granted and to be granted by any Loan Party to the Administrative Agent, the Lenders or the Trustee (as defined in any of the Security Instruments) on behalf of the Administrative Agent and the Lenders in such Loan Party’s assets pursuant to the Security Instruments will be validly created, perfected and, subject to the Intercreditor Agreement, second priority Liens, subject only to Liens permitted under Section 7.01.

Liens Under the Security Instruments. Upon the execution and delivery of the Security Instruments in accordance herewith, and where appropriate the filing and recordation thereof with the appropriate filing or recording officers in each of the necessary jurisdictions, the Liens granted and to be granted by any Loan Party to the Administrative Agent, the L/C Issuer, the Lenders or the Trustee (as defined in any of the Security Instruments) on behalf of the Administrative Agent Agent, the L/C Issuer and the Lenders in such Loan Party’s assets pursuant to the Security Instruments will be validly created, perfected and, subject to the Intercreditor Agreement, second and first priority Liens, subject only to Liens permitted under Section 7.01.